Sword Group – Disposing of its software GRC operation.
Windhof, Luxembourg – 28th February 2022 – Specialist IT and digital transformation services provider, Sword Group today announced it has completed the sale of software subsidiary Sword GRC to Riskonnect.
Jacques Mottard, Chairman and CEO of Sword Group stated to investors “Outside of shareholder remuneration, the cash generated by this disposal will serve to finance organic growth, strengthen our talent pool and accelerate new initiatives.
“In addition, having the cash to acquire a business that has synergy with our existing IT and digital transformation, or offshore operations in Lebanon and India, also presents an accelerated opportunity for continued growth,” continued Jacques Mottard.
The combination of Riskonnect and Sword GRC creates the most extensive risk management platform available, bringing together complementary product capabilities, best-in-class technology, and unmatched expertise to offer customers the benefits of a shared commitment to innovation, strengthening of clients’ risk management offerings, and the assembly of leading risk management talent.
“Our customers are our highest priority. We are confident that this combination and its financial strength will better serve our customers through an enhanced and diversified product suite. The comprehensive solution set is uniquely built to enable and support business performance through risk management,” said Sword GRC CEO, Nick Scully.
“Customers should see little change or impact in their relationship with Sword GRC and should expect the same great support and service that you have always known from our teams.” Continued, Nick Scully.
Sword Group and Riskonnect agreed not to disclose financial details of the transaction.
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NOTES TO EDITORS
About Sword Group
For more information please visit: Sword Group http://www.sword-group.com